The U.S. and New Zealand geo-physicists have found large deposits of gold and silver in reservoirs beneath several volcanoes in New Zealand.

They found overall six reservoirs of precious metal located in Taupo Volcanic Zone on New Zealand's North Island.

According to the scientists, the place contains examples of gold at over 20 parts per billion, and silver at 2,000 ppb, Lenta.ru reports citing Phys.org.

The mining of the precious metals will yield nearly three billion dollars worth of gold and three and a half billion in silver annually.

New technology would have to be developed to get at new sources.